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Introduction to IT Project Management by Frank Parth, Cynthia Snyder

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10 Project Risk

After reading this chapter, you will be able to:

•  Identify sources of project risks.

•  Use tools to identify project risks.

•  Analyze project risks.

•  Develop responses for project risks.

UNDERSTANDING PROJECT RISK

What is project risk? Does risk entail only the things that can go wrong with your project? Does it also include things that can go right? How do you identify all the risks lurking out there, just waiting to scuttle your project? If you do not have enough team members, is that a schedule risk? How do you know which risks you should respond to and which ones you should monitor? How can you develop effective responses to risks? These are the critical questions that risk management tries to answer.

We begin by defining ...

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